Daily Pivots: (S1) 1.1708; (P) 1.1752 (R1) 1.1787; More…

Intraday bias in EUR/USD remains on the downside as fall from 1.2091 is in progress. Deeper decline should be seen to 1.1661 support first. Such fall is correcting whole rise from 1.0569. Break of 1.1661 will target 38.2% retracement of 1.0569 to 1.2091 at 1.1510, where we’re expecting support to bring rebound. On the upside, above 1.1837 minor resistance will turn intraday bias neutral first. But break of 1.2029 resistance is needed to confirm completion of the pull back. Otherwise, deeper fall will remain in favor as the correction develops.

In the bigger picture, rise from medium term bottom at 1.0339 is still in progress for 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. However, it should be noted that there is no confirmation of trend reversal yet. That is, such rebound from 1.0399 could be a correction. And the long term fall from 1.6039 (2008 high) could resume. Hence, we’d be cautious on strong resistance from 1.2516 to limit upside. But after all, break of 1.1661 is needed to indicate medium term topping. Otherwise, outlook will remain bullish in case of pull back.

EUR/USD continued to struggle in sideway trading last week and outlook is unchanged. Initial bias remains neutral this week first. On the upside, sustained trading above 55 day EMA (now at 1.1385) will bring stronger rise back to 1.1663 support turned resistance. On the downside, break of 1.1185 will resume larger decline from 1.2348. Next target is 161.8% projection of 1.2265 to 1.1663 from 1.1908 at 1.0934.

In the bigger picture, there are various ways of interpreting the fall from 1.2348 (2021 high). It could be a correction to rise from 1.0635 (2020 low), the fourth leg of a sideway pattern from 1.0339 (2017 low), or resuming long term down trend. In any case, outlook will now stay bearish as long as 1.1703 support turned resistance holds. Sustained break of 61.8% retracement of 1.0635 to 1.2348 at 1.1289 would pave the way back to 1.0635.

In the long term picture, EUR/USD has possibly failed 1.2555 cluster resistance (38.2% retracement of 1.6039 to 1.0339 at 1.2516) again. Long term outlook will remain neutral as sideway pattern from 1.0339 (2017 low) is extending with another medium term fall. For now, we’d hold back from assessing the chance of downside breakout, and monitor the momentum of the decline from 1.2348 first.

Daily Pivots: (S1) 1.1061; (P) 1.1116 (R1) 1.1157; More….

Intraday bias in EUR/USD remains neutral for consolidation below 1.1170 temporary top. Deeper retreat mildly be seen but downside should be contained by 1.1020 resistance turned support and bring another rise. Above 1.1170 will extend recent rally to 138.2% projection of 1.0339 to 1.0828 from 1.0569 at 1.1245, which is close to 1.1298 key resistance. For now, we’d be cautious on strong resistance between 1.1245/1298 to limit upside and bring reversal.

In the bigger picture, as long as 1.1298 key resistance holds, whole down trend from 1.6039 (2008 high) is still expected to continue. Break of 1.0339 low will send EUR/USD through parity. However, considering bullish convergence condition in weekly MACD, break of 1.1298 will indicate long term reversal. In such case, further rally would be seen back to 1.2042 support turned resistance next.

Daily Pivots: (S1) 1.2290; (P) 1.2334 (R1) 1.2370; More….

Intraday bias in EUR/USD remains neutral as this point, as it drew support from 1.2302 and recovered. On the upside, above 1.2396 will extend the rise from 1.2214 to 1.2475 and then 1.2555. 1.2516/55 is the key resistance zone to determine larger outlook. On the downside, below 1.2302 will turn bias to the downside for 1.2214 support first. And firm break there will revive the case of rejection by 1.2516 key fibonacci level and turn outlook bearish.

In the bigger picture, key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516 remains intact despite attempts to break. Hence, rise from 1.0339 medium term bottom is still seen as a corrective move for the moment. Rejection from 1.2516 will maintain long term bearish outlook and keep the case for retesting 1.0039 alive. Firm break of 1.1553 support will add more medium term bearishness. However, sustained break of 1.2516 will carry larger bullish implication and target 61.8% retracement of 1.6039 to 1.0339 at 1.3862 in medium term.

Daily Pivots: (S1) 1.1116; (P) 1.1154; (R1) 1.1176; More…

EUR/USD’s break of 1.1133 minor support argues that rebound from 1.1026 has completed at 1.1249 already, after failing to sustain above 55 day EMA. Intraday bias is turned back to the downside for 1.1026 low. Firm break there will extend the downtrend from 1.2555. In case of another rise, we’d expect strong resistance from 1.1282 to limit upside.

In the bigger picture, current development suggests that down trend from 1.2555 (2018) is in progress and extending. Prior rejection of 55 week EMA also maintained bearishness. Further fall should be seen to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Decisive break there will target 1.0339 (2017 low). On the upside, break of 1.1412 resistance is needed to indicate medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.1514; (P) 1.1542; (R1) 1.1559; More…

Intraday bias in EUR/USD is mildly on the downside with breach of 1.1528 temporary low. Current decline from 1.2265 would target 1.1289 medium term fibonacci level next. On the upside, break of 1.1639 resistance, however, will indicate short term bottoming. intraday bias will be turned back to the upside for stronger rebound.

In the bigger picture, sustained break of 1.1602 will argue that rise from 1.0635 (2020 low) has completed at 1.2348. Deeper fall would be seen to 61.8% retracement of 1.0635 to 1.2348 at 1.1289. Note also that rejection by 55 week EMA (1.1830) also carries medium term bearish implication. Firm break of 1.1289 will pave the way to retest 1.0635 low. On the upside, though, break of 1.1908 resistance will revive medium term bullishness and turn focus back to 1.2348 high.

Daily Pivots: (S1) 1.1770; (P) 1.1788; (R1) 1.1810; More….

Intraday bias in EUR/USD remains on the downside at this point. Current decline form 1.2348 should target 38.2% retracement of 1.0635 to 1.2348 at 1.1694 and possibly below. But we’d expect strong support from 1.1062 to contain downside to complete the correction from 1.2348. Though, break of 1.1988 resistance is needed to indicate short term bottoming. Otherwise, risk will stay on the downside even in case of recovery.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1602 support holds. We’d be alerted to topping sign around 1.2516/55. But sustained break there will carry long term bullish implications.

Daily Pivots: (S1) 1.2090; (P) 1.2112; (R1) 1.2128; More…..

EUR/USD is still bounded in consolidation from 1.2177 temporary top and intraday bias stays neutral. In case of another retreat, downside should be contained by 1.2003 support to bring another rise. On the upside, break of 1.2177 will target 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452 next.

In the bigger picture, rise from 1.0635 is seen as the third leg of the pattern from 1.0339 (2017 low). Further rally could be seen to cluster resistance at 1.2555 next, (38.2% retracement of 1.6039 to 1.0339 at 1.2516). This will remain the favored case as long as 1.1602 support holds.

Daily Pivots: (S1) 1.1756; (P) 1.1789 (R1) 1.1840; More…

The consolidation pattern from 1.1908 is still in progress and intraday bias remains neutral for the moment. In case of deeper fall, downside should be contained by 38.2% retracement of 1.1119 to 1.1908 at 1.1606 to bring up trend resumption. Break of 1.1846 minor resistance will argue that larger rise from 1.0339 is resuming for 1.2042 long term support turned resistance next.

In the bigger picture, an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Sustained trading above 55 month EMA (now at 1.1768) will pave the way to key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. While rise from 1.0339 is strong, there is no confirmation that it’s developing into a long term up trend yet. Hence, we’ll be cautious on strong resistance from 1.2516 to limit upside. But for now, medium term outlook will remain bullish as long as 1.1295 support holds, in case of pull back.

Daily Pivots: (S1) 1.1264; (P) 1.1314; (R1) 1.1387; More…

Intraday bias in EUR/USD remains neutral first and some more sideway consolidation could still be seen. But further rally is in favor as long as 1.1195 minor support holds. Above 1.1383 will target a test on 1.1496 key resistance. Though, break of 1.1195 will indicate short term topping ad turn bias to the downside.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress. Next target is 1.0339 (2017 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.

Daily Pivots: (S1) 1.0795; (P) 1.0823; (R1) 1.0843; More…

Intraday bias in EUR/USD remains neutral at this point. Corrective pattern from 1.0635 could extend further. On the upside, above 1.0895 minor resistance will turn bias to the upside for 1.1019 resistance. But overall, upside should be limited by 61.8% retracement of 1.1496 to 1.0635 at 1.1167. On the downside, break of 1.0727 will target a test on 1.0635 low.

In the bigger picture, as long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress. Next target is 1.0339 (2017 low). However, sustained break of 1.1496 will argue that such down trend has completed. Rise from 1.0635 could then be seen as the third leg of the pattern from 1.0339. In this case, outlook will be turned bullish for retesting 1.2555.

Daily Pivots: (S1) 1.0972; (P) 1.1034; (R1) 1.1100; More…

Breach of f1.1075 suggests that EUR/USD’s whole rally from 0.9543 is resuming. Intraday bias is now on the upside for 1.1273 fibonacci level. Break there will target 61.8% projection of 0.9534 to 1.1032 from 1.0515 at 1.1441. Meanwhile, outlook will remain bullish as long as 1.0908 support holds, in case of another retreat.

In the bigger picture, rise from 0.9534 (2022 low) is in progress for 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. Sustained break there will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high). This will now remain the favored case as long as 1.0515 support holds, even in case of deeper pull back.

Daily Pivots: (S1) 1.0149; (P) 1.0176; (R1) 1.0206; More…

Intraday bias in EUR/USD stays neutral first, and risk stays on the downside as long as 1.0368 resistance holds. Rebound from 0.9951 should have completed at 1.0368 after rejection by 55 day EMA, as well as falling channel resistance. Break of 1.0121 minor support will target a retest on 0.9951 low. Firm break there will resume larger down trend.

In the bigger picture, down trend from 1.6039 (2008 high) is still in progress. Next target is 100% projection of 1.3993 to 1.0339 from 1.2348 at 0.8694. In any case, outlook will stay bearish as long as 1.0773 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.1012; (P) 1.1028; (R1) 1.1042; More…

No change in EUR/USD’s outlook. Corrective recovery from 1.0879 could still extend higher. But upside should be limited by 1.1109 resistance to bring down trend resumption. On the downside, break of 1.0941 minor support should confirm completion of the recovery and turn bias to the downside for retesting 1.0879 low first. However, firm break of 1.1109 will be an early sign of medium term bottoming and target 1.1412 key resistance next.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress. Prior rejection of 55 week EMA also maintained bearishness. Further fall should be seen to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Decisive break there will target 1.0339 (2017 low). On the upside, break of 1.1412 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

EUR/USD’s up trend extended to 1.0733 last week but retreated since then. Initial bias remains neutral this week first. Further rally is expected as long as 1.0481 resistance turned support holds. Firm break of 61.8% projection of 0.9729 to 1.0481 from 1.0289 at 1.0754 will pave the way to 100% projection at 1.1041. However, firm break of 1.0481 will confirm short term topping and bring deeper fall to 1.0289 support.

In the bigger picture, focus stays on 38.2% retracement of 1.2348 (2021 high) to 0.9534 at 1.0609. Rejection by 1.0609 will suggest that price actions from 0.9534 medium term bottom are developing into a corrective pattern. Thus, medium bearishness is retained for another fall through 0.9534 at a later stage. However, sustained break of 1.0609 will raise the chance of trend reversal and target 61.8% retracement at 1.1273.

In the long term picture, as long as 1.0635 support turned resistance holds (2020 low), long term down trend from 1.6039 (2008) could still extend through 0.9534 at a later stage. However, sustained break of 1.0635 will confirm bottoming and at least turn long term outlook neutral.

Daily Pivots: (S1) 1.0972; (P) 1.1034; (R1) 1.1100; More…

Intraday bias in EUR/USD is turned neutral with current retreat. Some consolidations could be seen first. But further rally is expected as long as 1.0908 support holds. Break of 1.1094 will resume larger up trend to 1.1273 fibonacci level. Break there will target 61.8% projection of 0.9534 to 1.1032 from 1.0515 at 1.1441.

In the bigger picture, rise from 0.9534 (2022 low) is in progress for 61.8% retracement of 1.2348 (2021 high) to 0.9534 at 1.1273. Sustained break there will solidify the case of bullish trend reversal and target 1.2348 resistance next (2021 high). This will now remain the favored case as long as 1.0515 support holds, even in case of deeper pull back.

EUR/USD’s long term down trend finally resumed last week and hit as long as 1.0070, meeting long term projection level at 1.0090. A temporary low was formed and initial bias is turned neutral this week first. Some consolidations could be seen but upside should be limited by 1.0358 support turned resistance to bring another fall. Break of 1.0070 will target 100% projection of 1.1184 to 1.0348 from 1.0773 at 0.9937, which is close to parity.

In the bigger picture, the break of 1.0339 long term support (2017 low) indicates resumption of whole down trend from 1.6039 (2008 high). Sustained break of 61.8% projection of 1.3993 to 1.0339 from 1.2348 at 1.0090 will pave the way to 100% projection at 0.8694. In any case, outlook will stay bearish as long as 1.0773 resistance holds, in case of rebound.

In the long term picture, long term down trend from 1.6039 (2008 high) resuming. Sustained break of 61.8% projection of 1.3993 to 1.0339 from 1.2348 at 1.0090 will pave the way to 100% projection at 0.8694.

Daily Pivots: (S1) 1.1001; (P) 1.1023; (R1) 1.1056; More…

No change in EUR/USD’s outlook. Corrective recovery from 1.0879 might extend. But upside should be limited by 1.1109 resistance to bring down trend resumption. On the downside, break of 1.0941 minor support should confirm completion of the recovery and turn bias to the downside for retesting 1.0879 low first. However, firm break of 1.1109 will be an early sign of medium term bottoming and target 1.1412 key resistance next.

In the bigger picture, down trend from 1.2555 (2018 high) is in progress. Prior rejection of 55 week EMA also maintained bearishness. Further fall should be seen to 78.6% retracement of 1.0339 to 1.2555 at 1.0813. Decisive break there will target 1.0339 (2017 low). On the upside, break of 1.1412 resistance is needed to confirm medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.0849; (P) 1.0903; (R1) 1.0958; More…

Intraday bias in EUR/USD remains neutral for consolidation above 1.0805 temporary low. Stronger recovery cannot be ruled out. But upside should be limited by 1.1120 support turned resistance to bring down trend resumption. On the downside, firm break of 61.8% projection of 1.2265 to 1.1120 from 1.1494 at 1.0786 will pave they way to 100% projection at 1.0349 next.

In the bigger picture, the decline from 1.2348 (2021 high) is expected to continue as long as 1.1494 resistance holds. Firm break of 1.0635 (2020 low) will raise the chance of long term down trend resumption and target a retest on 1.0339 (2017 low) next. Nevertheless, break of 1.1494 will maintain medium term neutral outlook, and extend range trading first.

Daily Pivots: (S1) 1.1277; (P) 1.1301; (R1) 1.1322; More…..

EUR/USD’s break of 1.1250 minor support suggests that corrective recovery from 1.1183 has completed at 1.1324 already. Intraday bias is turned back to the downside for 1.1176 key support. Decisive break there will resume whole down trend form 1.2555. On the upside, though, break of 1.1324 will turn bias back to the upside to extend the recovery.

In the bigger picture, EUR/USD has been losing downside momentum around 61.8% retracement of 1.0339 (2016 low) to 1.2555 (2018 high) at 1.1186. But for now, there is no clear sign of medium term reversal yet. Downside from 1.2555 is expected to resume sooner or later as long as 1.1569 structural resistance holds. Decisive break of 1.1186. could pave the way back to 1.0339 low.